Q1 2026 Clearwater Paper Corp Earnings Call Transcript
Key Points
- Clearwater Paper Corp (CLW) increased shipment volumes by 5% in a competitive market environment.
- The company launched Velora, a new lightweight folding carton paperboard brand, to compete with imported FBB.
- Clearwater Paper Corp (CLW) restructured its Cypress Bend facility, reducing roles by 20% and expecting annual cost savings of $8 million to $12 million.
- The Lewiston, Idaho union ratified a new four-year labor agreement, providing flexibility in mill operations.
- The company received $17.5 million in additional insurance proceeds, contributing to a total of over $40 million in recoveries.
- Net sales were down 5% compared to the prior year due to lower market pricing.
- Adjusted EBITDA was only $2 million, slightly above breakeven, impacted by $15 million in weather-related disruptions.
- The company is facing significant cost pressures from chemical, wood, and diesel costs due to the Middle East conflict.
- Clearwater Paper Corp (CLW) reported a net loss from continuing operations of $13 million for the quarter.
- The company anticipates $3 million to $5 million of quarterly headwinds from increased input costs until global supply chains normalize.
Thank you for standing by. At this time, I would like to welcome everyone to today's Clearwater Paper first quarter 2026 earnings conference call. (Operator Instructions)
I'd now like to turn the call over to Cheri Ellison, Investor Relations. Cheri?
Thank you, Ben. Good afternoon, and thank you for joining Clearwater Paper's first quarter 2026 earnings conference call. Joining me on the call today are Arsen Kitch, President and Chief Executive Officer; and Sherri Baker, Senior Vice President and Chief Financial Officer. Financial results for the first quarter of 2026 were released shortly after today's market close, along with the filing of our 10-Q.
You will find a presentation of supplemental information, including a slide providing the company's current outlook posted on the Investor Relations page of our website at clearwaterpaper.com. Additionally, we will be providing certain non-GAAP financial information in this afternoon's discussion.
A reconciliation of the non
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